As Covid-19 shakes up the art world, cancelling in-person fairs, damping down demand and postponing biennials, art professionals are struggling to see how their sector will evolve in the coming period.
One project – though six years in the works – offers up an idea. Jettisoning the traditional model of discrete, permanent galleries, Cromwell Place in London is drawing from the freelance economy: a members-only, high-spec venue that offers gallery space and private viewing rooms to rent when galleries need them, and a base for socialising and networking throughout the year.
The project is the brainchild of John Martin, the co-founder of Art Dubai and owner of the eponymous London gallery. He developed the idea to address what he saw as inefficiencies in the art world, particularly the mismatch between galleries’ expenditure on rent and the fact that most of their income was generated elsewhere.
“Galleries were spending money 100 per cent of the time for rent, but making most of their money at art fairs,” the British gallerist explains. “It didn’t make sense for the cash flow of these small businesses."
With its private viewing rooms and services like art technicians, storage and swanky catering, Cromwell Place also addresses the gulf between top-tier galleries, which have numerous international outposts, departments and lavish entertaining budgets, and smaller or medium-size galleries, which are being increasingly squeezed.
“We wanted to take the logistics out of setting up a show,” he says. “All the admin that keeps galleries from focusing on what they are actually meant to do.”
So far, 50 galleries and non-profits have joined, including Lawrie Shabibi, The Third Line and Tabari Artspace from Dubai, Hafez Gallery from Jeddah, and Lehmann Maupin from New York. Eight exhibitions have launched for the site's opening on Saturday, October 10.
Private viewing rooms and the site's restaurant and bar are meant to attract not only gallery members, but arts professionals and consultants who need a base in which to conduct business.
However, the long-in-the-making site opens to an art world that has been changed by the coronavirus. The art fair model, which involves bringing large numbers of people to one space in order to buy artwork, is looking increasingly shaky for most fairs in the coming year. One gallerist says that the trend might be back towards sales made in galleries, and away from art fair income. Another suggests further consolidation among smaller galleries. The only trend most arts professionals can – begrudgingly – agree upon is towards further online sales.
But Martin and managing director Preston Benson are confident that Covid’s disruption makes leaner and more flexible models such as Cromwell Place even more attractive.
“Covid accelerated trends that were already in the making,” says Benson. “Rents were spiralling and pricing people out. This is a project that brings galleries together.”
Many of the galleries that have joined Cromwell Place have their primary sites abroad and are using this as a base for collectors in London, even if they might be from the Middle East and Africa.
“It’s really important to be doing things physically,” says William Lawrie, of Alserkal Avenue’s Lawrie Shabibi, which is showing new works by Moroccan artist Mohamed Melehi. “There was a sense over the summer that we had to be active rather than participating in online viewing rooms only.”
"Having a site here gives us the chance to have synergies," he continues. "Melehi's show is currently at Alserkal Avenue. Now that people aren't travelling, it means we can show the work to people in London as well."
Aspan Gallery, which was established in 2017 in Almaty, Kazakhstan, has booked a membership to raise awareness of its programme, which centres around the generation of artists who came of age during the tumultuous break-up of the Soviet Union. Meruyert Kaliyeva, the gallery’s founder, is showing light-boxes by artist Almagul Menlibayeva, who investigates the clash of traditional and modern roles for women, and Yerbossyn Meldibekov, who tracks the changing waves of political and cultural allegiances in Central Asia.
Like any members club, Cromwell Place will ultimately be judged by the quality of its participants. Veteran art journalist Georgina Adams chairs the selection committee, and well-known New York gallery Lehmann Maupin has taken a permanent space in one of the three townhouses, with an opening show hat includes works by Kader Attia, Lari Pittman, and Mandy El-Sayegh.
The membership fees are tiered, ranging from £6600 ($8,547) for permanent galleries and £6000 for exhibiting galleries, and £2640 a year for members such as art consultants and collectors who simply wish to use the facilities. All price include VAT, and there is a joining fee of £3300 on top. Non-profits get a reduced rate.
For the opening, space was given over to the Mother Art Prize, which is awarded to artists who are also mothers or who have caring responsibilities, in order to redress the challenges women artists face if they start families. The prize comes with $500 and the winner – this year Helen Benigson – gets a solo exhibition at the Showroom Gallery in London.
Sited in South Kensington, down the road from the V&A and across the street from the Institut Francais, the venue comprises three Victorian townhouses that have been knocked together and refurbished to provide 45,000 square feet of exhibition space. The site has art credentials: one of the townhouses – the former no. 5 – belonged to portrait painter John Lavery and his wife Hazel Lavery.
Cromwell Place's bar area is set in what had been the Lavery's salon, with ornate stucco details and decorative mirrors still on the walls. The main events venue is in the high-ceilinged room that Lavery used as his studio, where, Martin tells me, Winston Churchill learned to paint.
"The story goes that Churchill was having his portrait painted by Lavery," Martin recounts. "He was gloomy, sitting there sulking. In walks Hazel – this great, gregarious society beauty. People fell in love with her instantly. She saw Churchill and asked him to try painting an apple that was sitting in the room. He did – and loved it, and he came back for lessons. This is where he became a painter."
It’s a high bar to set in terms of contribution to art history, but rethinking the art landscape is not a bad place to start.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B
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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
Engine: 2.4L four-cylinder
Transmission: Nine-speed automatic
Power: 184bhp at 6,400rpm
Torque: 237Nm at 3,900rpm
Fuel economy, combined: 9.4L / 100km
THE%20HOLDOVERS
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Napoleon
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SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Scoreline
Saudi Arabia 1-0 Japan
Saudi Arabia Al Muwallad 63’
Tuesday results:
- Singapore bt Malaysia by 29 runs
- UAE bt Oman by 13 runs
- Hong Kong bt Nepal by 3 wickets
Final:
Thursday, UAE v Hong Kong
Company%20profile
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Match info:
Burnley 0
Manchester United 2
Lukaku (22', 44')
Red card: Marcus Rashford (Man United)
Man of the match: Romelu Lukaku (Manchester United)
The Freedom Artist
By Ben Okri (Head of Zeus)
BABYLON
%3Cp%3EDirector%3A%20Damien%20Chazelle%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Brad%20Pitt%2C%20Margot%20Robbie%2C%20Jean%20Smart%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Zayed Sustainability Prize
Barbie
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